BTC - Income BULL Run (4H Inverted Head and Shoulders)

Mar 19, 2020

We have an inverted head and shoulders forming on the 4H of BTC. It has already broken the neckline. It would be wise to wait for a retracement to the broken resistance and then taking a buy from that point. Targets are outlined on the chart.

What are your thoughts on this pattern? Will we see a good short term run?

Mar 19, 2020

Trade closed: target reached

I've closed my position. Target 1 reached. I'll be waiting for a retracement from here.

Mar 19, 2020

Note

Price hit a 61.8 fib level and a zone where orders are sitting for shorts. I could see the price come down from here to touch that bullish trendline.

After the retracement, the price could climb higher OR weaken and drop to our last low. We could also only see a minor retracement and break the 61.8 to go to the next zone.

BTC Futures are awesome!